Employers or employees facing financial difficulties due to the COVID-19 outbreak can postpone making contributions until December 2020.
Keywords: Mazars, Thailand, Provident fund, Payroll, COVID-19, Ministry of Finance, Employee, Employer
Updated: 9 March 2021
On 5 May 2020 and 8 January 2021, a notification of the Ministry of Finance was published in the Royal Gazette. The purpose of the notification is to mitigate the impact of the COVID-19 outbreak on both employers and employees.
- Employers and employees facing financial difficulties due to the COVID-19 outbreak can postpone making provident fund contributions from now to June 2021, while continuing to be enrolled in the provident fund.
- An employee can continue making contributions, but an employer can choose to postpone contributions or to make them as usual.
- In order for an employer to be able to postpone contributions, a general meeting of the fund must approve a resolution on this matter. However, a vote must be passed unanimously by the fund’s committees representing the employer and employees if a general meeting cannot be held.
- In order for contributions from a cash pool to be postponed, a general meeting of the fund must approve a resolution on this matter, or a vote must be passed unanimously by the fund’s committees representing the employers and the employees of each employer.
- An employer or the fund’s committees must submit the following documents to the provident fund registrar:
- A statement from the employer certifying that it is having financial difficulties due to the COVID-19 outbreak. This must be signed off by the authorized person of the entity; and
- The minutes of the general meeting or the fund’s committees reporting that the employer is having financial difficulties doe to the COVID-19 outbreak, and will postpone contributions until a time, but no later than June 2021.
First announcement: Ministry of Finance Notification dated 29 April 2020
Second announcement: Ministry of Finance Notification dated 5 January 2021